Delta Corporation revenue up 52 percent in first three months of this year


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Delta Corporation’s revenue for the fourth quarter to March 31, 2018 increased 52 percent and 18 percent for the full-year largely on strong consumer demand which continued from the prior quarter.

In a trading update, the company said excluding Zambian brewer, Natbrew Plc which was acquired effective 1 January 2018, revenue was 45 percent up for the quarter and 17 percent for the full year respectively.

Lager beer volumes grew 51 percent above prior year for the quarter and 27 percent for the full year while sparkling beverages increased 49 percent over prior year for the quarter and 15 percent on the previous year.

However, the beverage category has a significant import requirement and will be more adversely affected by the ongoing foreign currency challenges, the company said.

The sorghum beer volumes grew by eight percent above prior year for the quarter and two percent for the full year.

The company said there were some considerable disruptions to the supply of Chibuku Super due to capacity limitations impacting suppliers of key packaging materials.

“Our new Zambian subsidiary National Breweries Plc registered a 21 percent growth for the quarter on improved product supply,” said the company.

Delta said discussions with Coca-Cola Company (TCCC) and AB Inbev to explore options to restructure the bottling operations in a number of countries are ongoing.

The company declared a dividend of 2.72 cents, bringing the current financial year’s total dividend to 7.2 cents. – The Source

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The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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